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Funding

Early-stage investor Black Seed has raised £5 million ($6.25 million) with aims to create a Black Silicon Valley in London. The South London-based venture firm raised the money as an inaugural fund to invest in and support Black founders by investing in seed-stage startups. Founders Karl Lokko, Cyril Lutterodt, and founding member Yvonne Nagawa launched Black Seed to address the lack of funding Black founders receive in the UK. According to Techcrunch, the firm will focus on early-stage investing, serving as a kind of “family and friends” round for those

Governor Kathy Hochul has announced a $30 million pre-seed and seed matching fund program to help early-stage startup companies. The funding for the program will come from the State Small Business Credit Initiative to provide extra support to small businesses owned by historically marginalized individuals, including Black and brown entrepreneurs and traditionally disadvantaged individuals. The initiative, part of New York’s $500 million federal investment, aims to help small businesses recover from the pandemic and rebuild local economies. As a part of the program, Governor Hochul will offer early-stage startup companies

New data has revealed that there has been an uptick in the amount of capital funding Black founders in the U.S. raised in Q4 of 2022. Although this shows that the tide may finally be turning, founders have yet to receive adequate funding to scale their businesses successfully.   According to Crunchbase, Black startup founders raised around $264 million out of the $33.6 billion allocated in Q4 of 2022.  This may seem small, but a slight increase from the $178 million raised from July to September 2022.  What did last year

The African tech ecosystem has taken a significant hit in Q3 2022 due to a lack of funding from investors. In 2021, fintech startups successfully raised $2 billion in funding and once dominated the African startup funding space, but the significant increase signifies a problematic time for African startups – so why is that?   Several factors have contributed to the slowdown, from the economic downturn which has forced many investors to deploy less capital to the decline in venture capital funding for crypto startups together this has caused global fintech

Black-owned finance company Novae LLC has officially launched a new digital tool to help small businesses find grants and tax incentives to help them grow at a faster rate.  What is Novae Grants?  The new tool launched by Novae LLC, called Novae Grants, allows thousands of users to search through a database filled with finance assistance opportunities from both the private sector and the government.  According to the Novae team, the grants in the database range from $500 to $5 million. They have specifically been designed to help underrepresented Black

The latest figures from Crunchbase have revealed that Black founders raised just $187 million in the third quarter of this year, considerably less than the $350 million WeWork’s Adam Neumann raised for his latest venture. TechCrunch reports that this quarter’s figures mark a significant and continued decline in capital for Black-owned businesses. In total, Black founders have raised just over $2 billion in venture capital funding this year – although this may seem like a lot – it’s a massive decrease from the record-breaking $4.72 billion raised in 2021.  Lack of

Black-owned startup, thirdweb, has raised $24 million in investment funding. The funding round led by Haun Ventures, Coinbase Ventures, Shopify, and Polygon, also included Shrug VC, Joseph Lacob, and others.  The ground-breaking tech startup founded by Steven Bartlett and Furqan Rydhan aims to provide developers with a Web3 development kit to help reduce the time and cost of building and launching applications.  The developer tool assists programmers in building NFTs, marketplaces, DAOs, and more.  “Web3 is the most important technological shift I’ve witnessed in my lifetime,” said Steven Bartlett, co-founder

Black Business Month isn’t over just yet! Amazon has announced that they are testing a new badge that aims to help boost the exposure of Black-owned businesses that buy and sell products through its online store.  The initiative, which comes just after the anniversary of the app’s first Black Business Accelerator program, will highlight to customers when a Black-owned business sells a featured offer product.  That way, customers can discover, shop, buy and support Black-owned businesses, ultimately helping small business owners expand their clientele and reach a broader demographic.  “As part of

The pre-seed fund, Visible Hands, has officially launched the second cohort of its “Visionaries Accelerator” program.  The initiative, which aims to support overlooked and underrepresented founders, welcomed 51 new founders to its flagship program.  The program, which will take place from September to December, will see each company work full-time towards building their business, with financial support from the Visible Hands team. Each founder will receive a starting investment of $25,000. Throughout the program, they will have the chance to earn additional assets of up to $150,000 as they progress. 

Venture capital firm, LatinxVC, has opened applications for the third cohort of LatinxVC fellows.  The eight-week program prepares participants for a successful analyst, associate, and senior associate role at a venture capital firm. In addition, the program will equip Latinx candidates with the tools needed to succeed and break into the investment world.  LatinxVC was founded in 2019 by Rami Reyes, Maria Salamanca, and six other Latinx professionals. It works to grow the number of Latinx professionals in venture capital by helping them develop their careers and network.  Their eight-week program

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